Hope for the best prepare for the worst.How are you prepping for the covid-19 virus.

[ElectroBoy]

I'm trying to figure out how our economy is going to come back - especially in retail and restaurants. It's a chicken or egg thing - which comes first? Companies will not rehire workers until sales pick up dramatically. People who don't have jobs will not have money to spend... Retailers won't order much new product if nobody is buying, so manufacturers have to wait for orders to pick up before they rehire. Manufacturers won't purchase raw materials until they have orders, so raw material suppliers have to wait for orders to pick up before they rehire. Product isn't moving so trucks/drivers sit idle. Who blinks first and hires some freaking workers so they can buy stuff?

Probably more govt recovery money will be needed to kick things off. I’ve gotta imagine there’s a lot of pent up demand for products. But there’s no backlog of demand for eating at restaurants. They’ll be big losers for quite some time because they’ll be required to space out customer tables for distancing. A 100 table restaurant may only be able to seat 25 nervous diners.

 

[ElectroBoy]

OFCS, Self-confessed liar Sarah [Huckabee] Sanders says: 'I don't like being called a liar'
The point is still made, regardless of whom the original author was

Sarah H Sanders. I haven’t thought of her in a long time. Her performance was so confrontational and wacky and full of BS, you know she didn’t develop that technique just for her press secretary job. Either she perfected that over many years of practice, or she’s just a natural born liar. She was a true work of art. And great SNL material.

 

[Rapid_Amble]

The point that the users of that analogy make is that rich pay a higher percentage of tax rate which is false. So a madeup false premise and false analogy attributed to economic experts is a lie.

Higher income people pay more taxes in absolute terms.

The marginal tax rate on investment income is often a lightning rod in the media. Tax situation starts to look really unfair when you look at the Mitt Romneys of the world (hedge funders, P/E firms, etc) who basically get all of their income from investment income and benefit from things like carried interest. On the other hand, lower marginal tax rates provide economic incentive for growing small-medium business owners.

But all of that is usually muddled beneath a "tax the rich so they pay their fair share" spin.

When Warren Buffet talked about paying lower taxes than his assistant, IIRC he was talking about property taxes in CA where those who bought their homes a long time ago (like he did) are locked into really low property tax rates. People who buy homes more recently (like his assistant), after the property values have increased substantially, pay much higher property taxes.

 

[Rapid_Amble]

Sarah H Sanders. I haven’t thought of her in a long time. Her performance was so confrontational and wacky and full of BS, you know she didn’t develop that technique just for her press secretary job. Either she perfected that over many years of practice, or she’s just a natural born liar. She was a true work of art. And great SNL material.

The White House press pool is a cesspool of attack merchants. She did all right considering.

 

[Oldmanb777]

I'm trying to figure out how our economy is going to come back - especially in retail and restaurants. It's a chicken or egg thing - which comes first? Companies will not rehire workers until sales pick up dramatically. People who don't have jobs will not have money to spend... Retailers won't order much new product if nobody is buying, so manufacturers have to wait for orders to pick up before they rehire. Manufacturers won't purchase raw materials until they have orders, so raw material suppliers have to wait for orders to pick up before they rehire. Product isn't moving so trucks/drivers sit idle. Who blinks first and hires some freaking workers so they can buy stuff?

You have the same question everyone else has. First question, how do we stay healthy, once health is reasonably secured, then food, roof over our head, etc. the new normal, and how we get there. Interesting times for sure.

 

[Oldmanb777]

As the investigators really prove the cause of this pandemic, and make it public. IF,, and I'm not saying it is yet, but looking more likely that it is, human caused. By accident or other wise, what will be the worlds response to that?
We certainly need to make sure it doesn't happen again, but what about all those who were adversely effected. What will be their desire for remedy?

 

[cb1111]

The White House press pool is a cesspool of attack merchants. She did all right considering.

This may be one of the few times I agree with you :hatsoff:

That's one job I wouldn't want. I worked with Ari Fleischer after 9/11 (back when the press was far less obnoxious) and he wasn't a happy camper then.

 

[spartacus]

Higher income people pay more taxes in absolute terms.

The marginal tax rate on investment income is often a lightning rod in the media. Tax situation starts to look really unfair when you look at the Mitt Romneys of the world (hedge funders, P/E firms, etc) who basically get all of their income from investment income and benefit from things like carried interest. On the other hand, lower marginal tax rates provide economic incentive for growing small-medium business owners.

But all of that is usually muddled beneath a "tax the rich so they pay their fair share" spin.

When Warren Buffet talked about paying lower taxes than his assistant, IIRC he was talking about property taxes in CA where those who bought their homes a long time ago (like he did) are locked into really low property tax rates. People who buy homes more recently (like his assistant), after the property values have increased substantially, pay much higher property taxes.

When you are done throwing your tantur tantrumps . Read what I wrote about taxes and WB Said in my post#1013. capicse pronounced as cah-peesh.

 

[2012sr5]

When you are done throwing your tantur tantrumps . Read what I wrote about taxes and WB Said in my post#1013. capise pronounced as cah-peesh.

Look man, I’m not defending him and everything he has posted, but did you actually read his response? He not only responded to your post #1013 giving context for Mr. Buffett’s comments, but it sounds like you guys are actually saying pretty close to the same thing regarding wage taxes and investment taxes.

Here’s why Buffet’s assertion that he pays lower taxes than the rest of his office involves a more than a bit of smoke and mirrors and is actually incorrect:

-the 7.65 percentage point “federal tax rate” differential between Buffett and his co-workers arising from the existing Social Security and Medicare taxing mechanism is simply not relevant, and is a mirage.

-[Buffett] included employer-paid payroll taxes in coming up with his and his office workers “federal tax rates.” The problem is that Buffett’s co-workers do not pay these taxes, rather Buffett does as a partial owner of Berkshire Hathaway . Buffett’s inclusion of these “taxes” into his analysis was incorrect and distorts the rates he cited.

The Forbes analysis that the above bits are taken from shows that Buffett’s office workers’ tax burden at the time of his infamous statement was 20.7%, and his was 31.1%.

Moral of the story: even the wealthiest people in the world make politically motivated statements.

 

[Rapid_Amble]

This may be one of the few times I agree with you :hatsoff:

That's one job I wouldn't want. I worked with Ari Fleischer after 9/11 (back when the press was far less obnoxious) and he wasn't a happy camper then.

:cheers:

 

[Gamma Ray]

As the investigators really prove the cause of this pandemic, and make it public. IF,, and I'm not saying it is yet, but looking more likely that it is, human caused. By accident or other wise, what will be the worlds response to that?
We certainly need to make sure it doesn't happen again, but what about all those who were adversely effected. What will be their desire for remedy?

If the world's response isn't "F*** the Chinese Communist Party" we riot.

 

[cb1111]

As the investigators really prove the cause of this pandemic, and make it public. IF,, and I'm not saying it is yet, but looking more likely that it is, human caused. By accident or other wise, what will be the worlds response to that?
We certainly need to make sure it doesn't happen again, but what about all those who were adversely effected. What will be their desire for remedy?

I suspect where will be a significant amount of lawsuits - China is already well underway with their disinformation campaign in Europe.

The upside is that manufacturing will be coming back to the US - at least for Critical Infrastructure and Key Resources.

It will happen again - historically every 10 years or so - but we can be better prepared.

 

[LandCruiser]

I suspect where will be a significant amount of lawsuits - China is already well underway with their disinformation campaign in Europe.

The upside is that manufacturing will be coming back to the US - at least for Critical Infrastructure and Key Resources.

It will happen again - historically every 10 years or so - but we can be better prepared.

Suing them won't matter. We need to bar entry of anyone with a Chinese passport, prevent them from owning land or business in the US, stop all trade, and say we're not going to pay back our debt to them and they can try to get the money back with their rusty, leaky navy and whiny pet EU politicians.

 

[Bumbo]

You are allowed to lay them off and rehire them.

The loan is only valued at 2.5x your payroll from 2019 average AND you can only use a minimum of 75% of it towards payroll for it to be forgiven. And you have to subtract the difference over $100K if any employee makes over that. Plus you have to provide backup. I have all my paperwork ready, I just hope it's the RIGHT paperwork.

I can't afford to bankroll my employees due to their cost. If I knew I was getting the loan approved I would...but if it doesn't get approved I am out $3500 an employee a week.

Well what do you know... the banks ran out of money. They REALLY screwed the small guys.

This situation is VERY upsetting. We pushed hard to get in line right away and do it right. Spent days getting the paperwork before the applications opened and kept all my staff in the process.

This guy explained the situation best... The banks prioritized the help, to business who owned them money. What a mess.

If you have any interest in how this is being handled... watch this.
"Chase Bank prioritizes LARGE INDEBTED businesses over small businesses for PPP loans"
YouTube

 

[ElectroBoy]

Suing them won't matter. We need to bar entry of anyone with a Chinese passport, prevent them from owning land or business in the US, stop all trade, and say we're not going to pay back our debt to them and they can try to get the money back with their rusty, leaky navy and whiny pet EU politicians.

An easy way to start weaning the US from China would be to reform the H-1B Visa system. Companies have been abusing this program for decades by hiring specialists for “temporary” work in specialty occupations by importing lower paid indentured labor for jobs that last for many years. High tech companies have been hiring foreign engineers each year in increasing numbers since the 1980s, whining that there’s never enough US citizens graduating to fill the jobs. Right.

 

[LandCruiser]

An easy way to start weaning the US from China would be to reform the H-1B Visa system. Companies have been abusing this program for decades by hiring specialists for “temporary” work in specialty occupations by importing lower paid indentured labor for jobs that last for many years. High tech companies have been hiring foreign engineers each year in increasing numbers since the 1980s, whining that there’s never enough US citizens graduating to fill the jobs. Right.

Never enough US graduates willing to work for a slave salary...

 

[2012sr5]

An easy way to start weaning the US from China would be to reform the H-1B Visa system. Companies have been abusing this program for decades by hiring specialists for “temporary” work in specialty occupations by importing lower paid indentured labor for jobs that last for many years. High tech companies have been hiring foreign engineers each year in increasing numbers since the 1980s, whining that there’s never enough US citizens graduating to fill the jobs. Right.

Yep. I consider myself a center-right independent, and this is a major problem on the right.

Just before this whole COVID-19 thing, I was talking with a friend who is a job site manager for a concrete company. He was telling me the guy who owns the company makes well into 6 figures, as he gets most of the city's contracts where he lives. My friend estimates that at least half of his workers don't have their papers, and the company pays them barely enough for 5 or 6 guys to share a one-bedroom apartment. This concrete company owner has the audacity to say that Americans are too lazy to take the jobs he offers, so he has to look to immigrants, when in reality the wages he's paying require hiring illegal aliens.

 

[Bumbo]

Yep. I consider myself a center-right independent, and this is a major problem on the right.

Just before this whole COVID-19 thing, I was talking with a friend who is a job site manager for a concrete company. He was telling me the guy who owns the company makes well into 6 figures, as he gets most of the city's contracts where he lives. My friend estimates that at least half of his workers don't have their papers, and the company pays them barely enough for 5 or 6 guys to share a one-bedroom apartment. This concrete company owner has the audacity to say that Americans are too lazy to take the jobs he offers, so he has to look to immigrants, when in reality the wages he's paying require hiring illegal aliens.

That is all too common in trade labor jobs like that… we see it all the time in residential construction, farming, or other labor trades.

What compounds the problems is how those people are compensated and if it’s being done below the table. The same business owners will not be paying workers comp, payroll taxes, and other costs that are associated with doing it right. As an example it cost me about $130 to pay someone $100… it’s another selfish double dip to line picket of those who run their operations in that manner.

Very shady, hurts the system, and it needs to be fixed.

 

[RichinRidgewood]

China, " ... a country with habits that kill millions of people everywhere ..."


YouTube

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[ElectroBoy]

YouTube

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Haha! Bill Maher. Excellent points.